Max Bupa - Revision history

CleanupBot II: Removed empty portal template using script

2023-08-14T11:02:47Z

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+Niva Bupa Health Insurance was founded in 2008 as a joint venture between Max India and [[Bupa]] and started operations in 2010.<ref>{{cite news |title=Max Bupa health cover enters India |url=https://www.indiatoday.in/business/story/max-bupa-health-cover-enters-india-73096-2010-04-30 |publisher=[[India Today]] |date=April 30, 2010}}</ref><ref>{{cite news |title=Max launches Bupa Health Insurance in India |url=https://www.adgully.com/max-launches-bupa-health-insurance-in-india-42982.html |publisher=Adgully |date=May 8, 2010}}</ref>
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BraydenBeeby640: General cleanup and improvements

2021-11-26T10:37:12Z

General cleanup and improvements

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imported>DaxServer: Reverting edit(s) by 110.224.50.80 (talk) to rev. 1035110832 by Devashishdhall: Not providing a reliable source (RW 16.1)

2021-07-26T09:15:46Z

Reverting edit(s) by 110.224.50.80 (talk) to rev. 1035110832 by Devashishdhall: Not providing a reliable source (RW 16.1)

New page

{{Short description|Indian health insurance company}}
{{Use Indian English|date=May 2021}}
{{Use dmy dates|date=May 2021}}
{{Infobox company
| name = Niva Bupa Health Insurance Company
| logo = Max Bupa logo.svg
| logo_size =
| logo_caption =
| type = [[Joint venture]]
| industry = [[Financial services]]
| founded = {{Start date and age|2008}}
| founder = 
| hq_location =
| hq_location_city = [[New Delhi]]
| hq_location_country = India
| area_served = India
| key_people = Krishnan Ramachandran (MD & CEO)
| products =
| brands =
| services = [[Health insurance]]
| parent = True North<br>[[Bupa]]
| divisions =
| subsid =
| website = {{URL|https://www.maxbupa.com/}}
}}
'''Niva Bupa Health Insurance Company Limited''' ('''Niva Bupa''') is an Indian [[health insurance]] company, founded in 2008. It is headquartered in [[New Delhi]], India.

It started as a [[joint venture]] between '''Max India Limited''' and '''[[Bupa]]''', the UK-based international healthcare group. Since early 2019, Max Bupa has been a joint venture between Bupa and private equity firm '''True North''', when Max India sold its entire stake to True North.<ref name=mint>{{cite news |last1=Bhasin |first1=Tinesh |title=Max India sells its stake in Max Bupa but policyholders needn't worry |url=https://www.livemint.com/insurance/news/max-india-sells-its-stake-in-max-bupa-but-policyholders-needn-t-worry-11575366581558.html |publisher=[[Livemint]] |date=December 3, 2019}}</ref><ref>{{cite news |last1=Thomas |first1=Prince Mathews |title=Analjit Singh's Future-Proof Strategy |url=http://www.forbesindia.com/article/boardroom/analjit-singhs-futureproof-strategy/24072/1 |work=[[Forbes India]] |date=April 18, 2011}}</ref> <ref>{{cite news |title=True North buys 51% stake in Max Bupa from Max India for Rs 510.51 crore |url=https://economictimes.indiatimes.com/industry/banking/finance/insure/true-north-buys-51-stake-in-max-bupa-from-max-india-for-rs-510-51-crore/articleshow/68170028.cms?from=mdr |publisher=[[The Economic Times]] |date=February 26, 2019}}</ref><ref>{{cite news |title=Max India exits health insurance biz, divests stake in Max Bupa for Rs 510 cr |url=https://economictimes.indiatimes.com/markets/stocks/news/max-india-exits-health-insurance-biz-divests-stake-in-max-bupa-for-rs-510-cr/articleshow/68173878.cms?from=mdr |publisher=[[The Economic Times]] |date=February 26, 2019}}</ref> The company has a paid-up capital of {{INRConvert|926|c}}.<ref name=toi>{{cite news |last1=Kurian |first1=Boby |last2=Shetty |first2=Mayur |title=True North set to control Max Bupa |url=https://timesofindia.indiatimes.com/business/india-business/true-north-set-to-control-max-bupa/articleshow/68160391.cms |work=[[The Times of India]] |date=February 26, 2019}}</ref>

The company is regulated by the [[Insurance Regulatory and Development Authority of India]] (IRDAI).<ref name=mint/>

== History and overview ==
Niva Bupa Health Insurance was founded in 2008 as a joint venture between Max India and [[Bupa]] and started operations in 2010.<ref>{{cite news |title=Max Bupa health cover enters India |url=https://www.indiatoday.in/business/story/max-bupa-health-cover-enters-india-73096-2010-04-30 |publisher=[[India Today]] |date=April 30, 2010}}</ref><ref>{{cite news |title=Max launches Bupa Health Insurance in India |url=https://www.adgully.com/max-launches-bupa-health-insurance-in-india-42982.html |publisher=Adgully |date=May 8, 2010}}</ref>

In Jun 2011, it integrated with [[Insurance Regulatory and Development Authority]]'s Integrated Grievance Management System in real-time, which made the company the first health insurance company in India to have such a system.<ref>{{cite news |title=Max Bupa integrates with IGMS (IRDA system) in real time |url=https://www.afaqs.com/company-briefs/50312_max-bupa-integrates-with-igms-irda-system-in-real-time |publisher=Afaqs |date=Jun 30, 2011}}</ref>

In April 2019, the company launched 'AnyTimeHealth (ATH)' machines that allow customers to buy health insurance cover in a few seconds.<ref>{{cite news |title=HDFC Bank and Max Bupa launch 'AnyTimeHealth' machines to distribute health insurance products |url=https://timesofindia.indiatimes.com/business/india-business/hdfc-bank-and-max-bupa-launch-anytimehealth-machines-to-distribute-health-insurance-products/articleshow/69045186.cms |work=[[The Times of India]] |date=April 25, 2019}}</ref>

In February 2019, Max India's entire 51 per cent stake was acquired by Fettle Tone LLP, an affiliate of private equity firm '''True North''' for {{INRConvert|510|c}}.<ref name=mint/><ref>{{cite news |title=IRDAI nod for Max stake sale in venture with Bupa |url=https://www.thehindu.com/business/irdai-nod-for-max-stake-sale-in-venture-with-bupa/article30152481.ece |work=[[The Hindu]] |date=December 3, 2019}}</ref> It distributes its policies through its agency force and [[bancassurance]] partners [[HDFC Bank]], [[Karur Vysya Bank]], [[Bank of Baroda]], [[Indian Bank]] and [[IDBI Bank]].<ref name=toi/><ref>{{cite news |last1=Srivats |first1=KR |title=Max Bupa and Indian Bank ink bancassurance tie-up to offer health insurance solutions |url=https://www.thehindubusinessline.com/money-and-banking/max-bupa-and-indian-bank-ink-bancassurance-tie-up-to-offer-health-insurance-solutions/article29475517.ece |publisher=[[The Hindu Business Line]] |date=September 21, 2019}}</ref><ref>{{cite news |last1=Srivats |first1=KS |title=Max Bupa and Indian Bank ink bancassurance tie-up to offer health insurance solutions |url=https://www.thehindubusinessline.com/money-and-banking/max-bupa-and-indian-bank-ink-bancassurance-tie-up-to-offer-health-insurance-solutions/article29475517.ece |agency=[[The Hindu]] |publisher=[[Business Line]] |date=September 21, 2019}}</ref><ref>{{cite news |title=IDBI Bank ties up with Max Bupa |url=https://www.zeebiz.com/personal-finance/news-health-insurance-idbi-max-bupa-suvidha-health-plus-idbi-max-bupa-loan-secure-medical-insurance-101872 |publisher=[[Zee Business]] |date=June 11, 2019}}</ref>
== Key people ==
In May 2020, Krishnan Ramachandran was appointed as the MD and CEO of the company and [[C. B. Bhave]] was appointed as the Chairman of the board.<ref>{{cite news |title=Max Bupa appoints Krishnan Ramachandran as MD, CEO |url=https://timesofindia.indiatimes.com/business/india-business/max-bupa-appoints-krishnan-ramachandran-as-md-ceo/articleshow/75553507.cms |publisher=Times of India |date=May 5, 2020}}</ref><ref>{{cite web |title=Max Bupa appoints Krishnan Ramachandran as MD & CEO - ET HealthWorld |url=https://health.economictimes.indiatimes.com/news/industry/max-bupa-appoints-krishnan-ramachandran-as-md-ceo/75554786 |website=ETHealthworld.com |language=en}}</ref>

== Awards and recognition ==
* In April 2019, the company won 'The Economic Times Best Brands 2019' award by [[The Economic Times]] and Nielsen.<ref>{{cite news |title=Max Bupa wins 'The Economic Times Best Brands 2019' award |url=https://www.business-standard.com/article/news-ani/max-bupa-wins-the-economic-times-best-brands-2019-award-119040200992_1.html |publisher=[[Business Standard]] |date=April 2, 2019}}</ref>
* In April 2018, Max Bupa's GoActive Health Insurance Plan recognized as Product of the Year by research agency [[Nielsen Corporation|Nielsen]].<ref>{{cite news |title=Max Bupa GoActive Health Insurance Plan recognized as product of the Year |url=https://www.business-standard.com/article/news-ani/max-bupa-goactive-health-insurance-plan-recognized-as-product-of-the-year-118042400842_1.html |publisher=[[Business Standard]] |date=April 24, 2018}}</ref>
* Max Bupa awarded the Golden Peacock Award 2015 for its product Heartbeat Health Insurance Plan.<ref>{{cite news |title=Golden Peacock Awards |url=http://goldenpeacockaward.com/innovative-productservice-award-gpipsa.html |accessdate=4 April 2020 |publisher="Goldenpeacockaward.com"}}</ref>
* Max Bupa Health Insurance awarded the 'IT Management Best Practices' at the Celent Model Insurer Asia Awards 2016.<ref>{{cite news |title=Max Bupa wins IT Management Best Practices Award |url=https://cafemutual.com/news/insurance/5369-max-bupa-wins-it-management-best-practices-award |publisher=CafeMutual |date=April 29, 2016}}</ref>
* The company received the Best Product Innovation Award for Heartbeat Family First at Indian Insurance Awards 2011.<ref>{{cite news |title=Brand Boss: Shefali Chhachhi, Director - Marketing, Max Bupa Health Insurance |url=https://economictimes.indiatimes.com/brand-boss-shefali-chhachhi-director-marketing-max-bupa-health-insurance/articleshow/10569785.cms?from=mdr |publisher=[[The Economic Times]] |date=November 3, 2011}}</ref>

== See also ==
{{Portal|India|Companies}}
* [[Insurance in India]]
* [[Bupa]]

== References ==
{{reflist}}
== External links ==
* {{URL|https://www.maxbupa.com/|Official website}}

{{Major insurance companies}}
{{Insurance in India}}

[[Category:Financial services companies established in 2008]]
[[Category:Health care companies established in 2008]]
[[Category:Multinational joint-venture companies]]
[[Category:Health insurance companies of India]]
[[Category:Indian companies established in 2008]]
[[Category:Companies based in Delhi]]
[[Category:2008 establishments in Delhi]]